Annoyed?

There are things I like! Write about cars, like about the "transatlanticist“, A Saab with a unique history. And there are things that are annoying! The cacophony around NEVS, for example ...

Trollhattan entrance - in the background the Saab plant
Trollhattan town entrance - in the background the Saab plant

I think the readers feel the same way. Nevertheless, as a chronicler's duty alone, a few words about the events in Trollhättan.

Why is?

With Saab, that's allat the moment) Nothing to do. It's about a company with just under 300 employees in trouble. A factory where you could build cars. And a platform where maybe new 2016 or 2017 vehicles could hit the market. In order to finalize the case lawyer Lars Eric Gustafsson has done what is customary in such cases. He brought specialists into the boat. It is about the transfer of intellectual property (intellectual property) and the handling of international acquisition. specialist Lenner & Partners from Stockholm is a first address for these transactions.

The fact that these experts are only boarding now shows with alarming clarity the level at which the previous negotiations of NEVS management have been conducted for months. The mood of the suppliers is tense. There is the broken promise of the management that all claims to 100% should be served. Many companies have already lost 2009 and 2011 money. The debtors' demand for waiver, it is a quota confirmed by 50%, is due to the reality. Just as NEVS has to move away from price expectations, so will suppliers. An approval of 60% of the capital is necessary, then the comparison is considered accepted. And they will agree, because they have no choice.

What will happen?

You would do well to consider the Saab plant and the Phoenix platform separately. Because everything indicates that the ways part here. In the best case scenario, the plant will find a new owner. Instead of the previous 4 letters, another well-known logo could then find its place on the administration building. Or the lettering of a lesser known manufacturer. The sale is not without its hooks and eyes. Because on the building complex rests a mortgage of the bankruptcy attorneys of Saab Automobile AB. This was intended as a pledge - in the event that NEVS does not meet its obligations. It prevented NEVS from loaning the property, now it could be a problem for the sale.

In Trollhättan itself, with our Swedish friends, and with people with contact in the municipality, nobody believes that cars will be built there in the future. Just as a note. I disagree and think one should not give up hope for the region.

Then there is the Phoenix platform and the rights to the 9-3. We know from the platform that it is parked in a development company. An investor could get in there, continue to develop with NEVS and bring products to market. For the NEVS owners, the license money would be secured for years, the workplaces of the developers.

Plan B, NEVS Industrial Services, the idea of ​​contract manufacturing should not be off the table. On the contrary, it matures and does not seem entirely absurd. Several OEMs have inquired; Significant progress is said to have been made in the past few weeks. There is some demand in Europe. BMW leaves Nedcar assemble and is supposedly looking for additional capacities for products on the mini platform. A Japanese manufacturer is considering mounting in Europe. All of this would be possible after a change of ownership - and in my opinion only then. Because contract manufacturers also need a certain financial substance. The NEVS doesn't have ...

As assured is the goodwill of the court. NEVS could go on to renew the reconstruction if suppliers do not overturn the last-minute process. With the Saab Automobile AB one pulled the plug much too early, with NEVS the court does not want to repeat the error. The cacophony in Trollhättan goes into extra time, we have to live with that.

The next article will be about Saab again. This is more enjoyable. Guaranteed.

19 thoughts on "Annoyed?"

  • Look back - GM has brought Saab down! GM must be held responsible = compensation must be claimed.
    Looking to the future - what about a nationalization of Saab?
    So is Scandinavia interested in receiving it, Sweden, Denmark, Norway? Why not follow the example such as Renault and create a state-owned company? Place all emergency solutions off the table in the dustbin and where the Saab with the Saab has stopped.
    Greetings a Saab fan from Germany

  • It's rather bad that the lawyers are only now coming. Show how badly you are prepared! NEVS will hit the wall fully. The sale of the 9-3 2014 was a good idea but implemented terribly bad. Whoever said NEVS had money was hallucinating ... it was only Chinese business ... And dazzling ...

  • THANK YOU, Tom, for the factual article. The wait for good news remains ... ;-)

  • Annoyed? Annoyed!

    If an investor really wanted to invest seriously in anything to have long-term vehicles produced under the familiar letter combination, he would not have escalated the situation.

  • In the beginning, the NEVS club has for an XY sum that
    Get transferred work with all its values. Next
    other conditions, including all new cars too
    to build. Thus, NEVS advertised at every press conference. Now,
    the alleged investors made mistakes and fell out ...

    The approved reconstruction is over. It is absolute to me
    incomprehensible that one in the time with vague arguments
    leaves this club at the helm. They belong in the factory
    to be hunted. Would be a blind and deaf negotiations
    lead, better results would have come out.

    The unsuspecting lead negotiations and still have
    the right to say no to the candidates. You want
    then remain on board as a minority shareholder.

    Simply terrible, my stomach turns when I see
    what the Swedes accomplish there. The car history is full
    with brilliant examples of the Fönixe but also the inglorious one
    Sunsets.

    Why do not you throw people out. They want it now
    the plan “B” ála Carman Ghia or Puch and others in one
    Makeshift boat to survive.

    They drove the factory to the sand and now they are supposed to
    finally be disposed of so that others negotiate in the
    Continue and terminate the meaning of Saab. To this
    Wise will come to the fact that in the "most modern"
    Plant bicycles or sewing machines are built. After all
    that would also be good for the plagued community.

    The people are neither negotiable nor unerring, so why
    nobody.

    I'm really disappointed, but take care of my Saabs ... come what
    wool.

  • As a grasshopper I would not call NEVS straight now, but NEVS had simply from the beginning the wrong approach with focus on China and e-car, and implemented the whole with naivety. I've written it here many times and I do not know if I'll ever get an answer. What in the world has driven the insolvency administrators only that they have just awarded the contract to NEVS. I also remember the comments here on the blog as it was known that the NEVS won the contract. After that, it's even surprising that there were also nice comments on NEVS in the meantime. Not from me though.

  • I can not understand how commentators here can complain that reporting on NEVS is too negative. The shop is currently compressing its 25 million euro supplier, destroying assets and jobs. Because of these gentlemen go bankrupt, the last chance for SAAB they have also messed up.
    NEVS is a grasshopper of the worst kind, which now also burns taxpayer money. Sorry that.

  • Yes, but Plan B is just B. I think you have the ambition to present a great solution, and of course the work is interesting. The scenario is somewhat reminiscent of December 2011 / January 2012.

  • But if a few large manufacturers have actually asked, Plan B under NEVS may seem to work. These OEMs cannot have assumed a new owner - the end of the negotiations is still pending (it will probably be the modern plant, which may attract Toyota or other manufacturers).

  • ah .. totally wrong, you don't understand. I mean company that is worthless = Nevs. Of course I mean what we love = Saab NOT Nevs. Sorry ...

  • Annoyed?
    : No ... rather sad.

    Also, in the last few years, lawyers etc. have definitely got more money than now ... the whole company is worth it.
    So Nevs ... Saab as something we love no longer exists.
    How so? : Because there is no finished new product ...

  • I think the definition of “reasonable - appropriate” has been the biggest problem in the last few months. Plan B is difficult with NEVS alone - in my eyes. Who will accept the company, which has been shipwrecked after a short time, as a sensible partner?

  • I hope with all my heart that this saab factory will survive and not get a different lettering or even be converted into warehouses as has been said before…. i don't understand that price pressing is more interesting than making the punching machines and press shops glow

  • If a new, suitable owner-to-be (with the consent of SAAB AB, of course) would like to put a reasonable (reasonable) purchase price on the table for the entire work, even after reading this blog article, it won't be clear to me why there could be bigger problems - then with later production of new SAAB models, Plan A would have been fulfilled.

    Let's see what Lenner & Partners can still manage - I can't imagine that this is all about the PHOENIX platform.

    Plan B (= contract manufacturing) will not be the main goal of a work buyer - here I could only imagine a temporary contract manufacturing. The actual goal would be the later production of SAAB automobiles. Only for Plan B, Mahindra would not have participated in the negotiations for months.

    I could imagine Plan B with NEVS as another sole owner (contrary to your opinion, Tom) - but even then under NEVS (if it went well) new SAAB models in Trollhättan could someday roll off the assembly line!

  • I've written it once before: If an 22% shareholder fails as an unreliable partner, then that should not be the reason that the entire funding bursts. The remaining 78% should have caught that if NEVS had the necessary substance. But the substance was not there.

  • It is not from the table. Mahindra and Dongfeng are still mentioned as candidates.

  • As always a big thank you to Tom for the current report.
    I am sorry, however, that the article speaks very negative about NEVS. Certainly mistakes were made, in retrospect it is always easy to swing and criticize clever speeches.
    Once things go wrong, (almost) everyone is always smarter. But a “had” doesn't help here!

    I do believe that the NEVS team has invested a lot of energy, courage and money to reanimate SAAB - nobody does that for pure fun with Freud!
    It's just the problems of the unreliable backers and the very complicated licensing conditions with GM and SAAB that make life even more difficult.

    Without NEVS SAAB as carmaker might already be at the very end and forgetting would have begun. So there is still hope!

    For my part, I keep my fingers crossed for the NEVS team, that they can still do it.
    I also hope that there will be new cars with the SAAB logo again - my 9³ is now 6 years old, so it's about time ...

  • And all this with and around mahindra, everything was just nice talking? Is that all back from the table?

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